GLICO GENERAL Insurance Pays out A 9% Increase In Claims In 2014… To Reinforce Its Commitment

GLICO General > Blog > GLICO GENERAL Insurance Pays out A 9% Increase In Claims In 2014… To Reinforce Its Commitment

GLICO GENERAL, the only Standard and Poor’s (S&P) rated non-life insurance company in Ghana, paid out claims amounting to GH¢6,721,611.51in 2014 to affirm its commitment of offering value to its clients.

Amidst dire socio-economic challenges experienced by Ghanaians, GLICO GENERAL remained true to its objective of cushioning clients for life by paying promptly all legitimate claims to its cherished policy holders in 2014. The total claims paid represents a 9% increase over its 2013 claims paid of GH¢6,162,968.15.

Speaking to Mr. Yaw Ofori Kuragu, the Managing Director of GLICO GENERAL, he confirmed the assertion that insurance is all about claims. Mr. Ofori Kuragu stated that, “in non-life insurance, individuals and organization require prompt claim payment for business continuity. He further added that, with the introduction of the “No premium; no cover” policy by the National Insurance Commission, insurers are duty bound to pay claims promptly and this is one commitment GLICO GENERAL is focused on delivering”.

GLICO GENERAL is also rated “A-", aside its “B” rating by Standard & Poors, for claim payment ability by the Global Credit Rating of South Africa. This affirms its strong focus and commitment to offering its clients the number one benefit of insurance - reinstatement when accidents or disasters occur!

When asked about the outlook for 2015, Mr. Ofori Kurugu declared that 2015 presents a fantastic opportunity for GLICO GENERAL. He went on to explain that the challenging socio-economic environments in Ghana now, makes it a prerequisite for businesses and individuals to insure their assets for business continuity in order to forestall future unexpected occurrences.

Mr. Ofori Kuragu further added that GLICO GENERAL has launched a new software to improve efficient underwriting and risk calculations to offer clients speedy and value -based services. He ended by saying that GLICO GENERAL, together with its sister companies forming the GLICO GROUP, is poised to offer its customers excellent services and continue to invest in human resource development and operational systems to improve its processes efficiently.

GLICO GENERAL is among Ghana’s top brands and was awarded a "Premier Brand" status in 2013 by the Centre for Brand Analysis Ghana (TCBAG) in recognition of its outstanding performance and dedication to customers in the non-life insurance industry.